Who sets the prices on Gasoline?

[-Cp]

Interesting read....
http://www.senate.gov/~gov_affairs/042902gasreport/sectionv.pdf

[-Cp]

More....

http://www.gasandoil.com/goc/news/ntn53955.htm

[loosecannon]

The second link was correct:


The cost of gasoline is determined by oil futures traders who shout prices at each other in the pits of the New York Mercantile Exchange during the day and quietly make deals electronically overnight.
Michael Burdette calls it a nearly 24-hour-a-day automated auction where prices can rapidly change as the trading floor hums on every piece of energy data it can get its hands on.


The first link only dealt with the minor fluctuations in retail price after the bulk of the price had already been determined at the commodities exchanges.

[Yurt]

This truly says alot:


Refining costs and profits: 14 percent;

Taxes (not including county and local taxes): 28 percent


Says something when somebody makes something or does the work to turn something into something and the government taxes at least twice the amount of the cost of making that something into a useful product.

:poke:

[loosecannon]

This truly says alot:




Says something when somebody makes something or does the work to turn something into something and the government taxes at least twice the amount of the cost of making that something into a useful product.

:poke:


The government makes a killing on vices. Gasoline is taxed like a vice.

Gas taxes are ostensibly to be dedicated to road construction and maintenance.

but.....

[manu1959]

This truly says alot:
Says something when somebody makes something or does the work to turn something into something and the government taxes at least twice the amount of the cost of making that something into a useful product.
:poke:

makes ya wonder who won't really let the private or public sector for that matter wean us off petrol.....

[Yurt]

makes ya wonder who won't really let the private or public sector for that matter wean us off petrol.....

Hmmmmmmmmm, good point, had not thought of that.

[Roomy]

The consumer sets the prices, until you say 'enough', they always rise disproportionately.We said 'enough' a couple of years ago.

[Yurt]

The government makes a killing on vices. Gasoline is taxed like a vice.

Gas taxes are ostensibly to be dedicated to road construction and maintenance.

but.....

Aaaaaaargh.

Tell that to those who MUST drive to work to support their family you dimwit. A vice? You are fool. Gasoline is NOT taxed like a vice, it is a necessity. Why do you think there is a gouging law dolt? You don't even know what a vice tax is you ignoramous.

[Yurt]

The consumer sets the prices, until you say 'enough', they always rise disproportionately.We said 'enough' a couple of years ago.

My understanding is that you are from merry ol England. Is this true?

[Mr. P]

Checkout your State..2002 figures but ya know it's higher now.

http://www.energy.ca.gov/gasoline/statistics/gas_taxes_by_state_2002.html

[loosecannon]

Aaaaaaargh.

Tell that to those who MUST drive to work to support their family you dimwit. A vice? You are fool. Gasoline is NOT taxed like a vice, it is a necessity. Why do you think there is a gouging law dolt? You don't even know what a vice tax is you ignoramous.

Dumbshit!! I said taxed like a vice

I didn't say it IS a vice. this is the kind of shit for brains reasoning that marks this board.

You guys just can not follow a logical sequence of ONE step.

[loosecannon]

makes ya wonder who won't really let the private or public sector for that matter wean us off petrol.....

Manu, you very seldom make contact with the ball.

But this time you really did hit a double.

Good job, keep it up.